Canadian regulator warns of crypto firms using fake regulatory stamps.

Canadian citizens are being warned to be cautious of cryptocurrency trading service providers, as some platforms may be falsely claiming to be approved by regulatory bodies to appear legitimate. The Canadian Securities Administrators have identified several “purported” crypto platforms that claim to be approved by disputed regulatory authorities or dispute resolution organizations. The CSA has labeled 10 entities as being “fictitious” regulatory bodies and organizations, including the Financial Standard Commission FSC Canada, Financial Commission/Finacom PLC Ltd., and its associated entity, Blockchain Association, among others. The CSA advises anyone considering using a crypto firm that claims to be certified or a member of a dispute resolution organization to independently verify that the referenced organization actually exists. There are currently 12 crypto trading platforms authorized to do business in Canada, while there are 11 that have filed pre-registration undertakings. The full list of regulatory bodies and entities that have been accused of being “fake” by the CSA can be found in the original article.

  • Financial Standard Commission (FSC) Canada
  • Financial Commission/Finacom PLC Ltd.
  • Blockchain Association
  • European Financial Services and Exchange Commission
  • Crypto Conduct Authority/Crypto Frugal Ltd. (Ireland)
  • Crypto Conduct Authority/Crypto Frugal Ltd. (U.K.)
  • International Regulatory & Brokerage E-markets
  • British Investment Commission/BIC PLC Ltd.
  • International Financial Market Supervisory Authority
  • Crypto Commission Authority/Crypto Commission Ltd.

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